CHICAGOUltima Hospitality, based in Chicago and in partnership with Argosy Real Estate, based in Wayne, Pa., announced the purchase of the former Larkspur Mill Valley Hotel in southern Marin County, Cali.

Recently renamed Tam Woods Hotel, North San Francisco Mill Valley, the 100-key hotel recently completed a $4 million dollar renovation and will undergo an additional targeted improvement plan including a redesign of guestrooms, remodeled public space and exterior improvements.

Once complete, the property will be rebranded as a Holiday Inn Express. Ultima Hospitality will oversee the management and rebranding of Tam Woods Hotel.

Located at the base of Mount Tamalpais, the hotel is located 11 miles from downtown San Francisco. Amenities at the property include a heated outdoor pool area with a deck, private cabanas, a whirlpool spa and an outdoor fire pit. In addition, guests have access to a business center, fitness center and meeting spaces.